THE BANK FAILURE.
By Telegraph. — iteuTEß's CopraiaHi.-^ ADELAIDE, February 26. At a further meeting of tbe shareholders in the Commercial Bank of South Australia, held yesterday, the chairman of the board of directors stated that the liabilities of the bank were £1,100,000 and the assets £ 1|280,000. The cash and securities on hand are sufficient to folly' : cover the notes in issue. He announced that the manager bad, without the knowledge of the directors advanced money to no less than'' nine persons in order to save them from bankruptcy, and it has also transpired, that there is a deficiency in the cash of seven thousand v, six hundred pounds, fox which y the manager and accountant are responsible. A committee of shareholders has been appointed to make a fall' report on-ihblSth" March. - , - ,
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Bibliographic details
Hawera & Normanby Star, Volume VII, Issue 1153, 26 February 1886, Page 2
Word Count
131THE BANK FAILURE. Hawera & Normanby Star, Volume VII, Issue 1153, 26 February 1886, Page 2
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